X-Mozilla-Status: 0001 X-Mozilla-Status2: 00000000 Return-Path: Delivered-To: commercial@safiranas.com Received: from Safiranas.com by Safiranas.com with LMTP id k+SoLWPVKmSJVAAAuSYAPA (envelope-from ) for ; Mon, 03 Apr 2023 18:02:19 +0430 Return-path: Envelope-to: commercial@safiranas.com Delivery-date: Mon, 03 Apr 2023 18:02:19 +0430 Received: from news.bizavltd.com ([213.32.144.13]) by Safiranas.com with esmtps (TLS1.2) tls TLS_ECDHE_RSA_WITH_AES_128_GCM_SHA256 (Exim 4.94) (envelope-from ) id 1pjKIE-0005fq-NE for commercial@safiranas.com; Mon, 03 Apr 2023 18:02:19 +0430 DKIM-Signature: a=rsa-sha256; bh=XbhA4X/aPZ/GunHfLbBjMYd/7lTvXiMl8MzEdLUNS0s=; c=relaxed/relaxed; d=news.bizavltd.com; h=to:cc:from:reply-to:subject:date:mime-version:content-type:list-id:list-unsubscribe:x-csa-complaints:list-unsubscribe-post:message-id:sender:x-sib-id:x-mailin-client:x-mailin-campaign:feedback-id; q=dns/txt; s=mail; t=1680528569; v=1; b=nlmiiEVKK2fBhsjwo++VQ0p1jjASYrYrLAwoyXhLxhB6kkQY4Zgm/C6zR7BbaEzxZT1gAYR5 6N+E0zGYupMn+U4EROoRd2c2hZUyzWXiJrcV5yqOv0xjOWLO0Y67u5lB9Dlwj2vXULfUm4yfqVO 4exHxek0JzO0s1VawDJiTM5U= To: Subject: Bizav News Roundup March 2023 Content-Type: multipart/alternative; boundary="-------?=_81095-9681568746134" Date: Mon, 03 Apr 2023 13:29:29 +0000 Feedback-ID: 213.32.144.13:1634527_90:1634527:Sendinblue From: BizAv Media Ltd List-Id: MTYzNDUyNy0xMzQ3OTAtMTM= List-Unsubscribe: , List-Unsubscribe-Post: List-Unsubscribe=One-Click MIME-Version: 1.0 Message-Id: <202303041329.1eyn2yvs05znjj@news.bizavltd.com> Precedence: bulk Reply-To: max@bizavltd.com X-Csa-Complaints: csa-complaints@eco.de X-Mailer: Sendinblue X-Mailin-Campaign: 90 X-Mailin-Client: 1634527 X-sib-id: RrPgpzN3xCQ8q-r8fvcKhu_H-JNIyWNEGBE-doQ8KnZenAwuA1NlkLk9Tv3q1e-N89g9bEAa0C2QD1SdV1m-ar0gg-D1S2ioiLcC9f83aWz3S53P9nLjG-pl5OL9A8k144vJIWdGfc18i4nQ1vQ-Uu48Km8LLFyGNS-pARgk1hYwMRTQQlFBoXT1vyBV9hNwkWnjQM2YfrcEoOM9ubriT4Mc6Z4cfPhCz2p4MA ---------?=_81095-9681568746134 Content-Transfer-Encoding: quoted-printable Content-Type: text/plain; charset=UTF-8 # [View email in browser](https://r.news.bizavltd.com/mk/mr/OL8jvXhJfFbr2Hgr4= fjwL0WZEnq4RjHQxAsImz6O0QciR742MkTgUEW5RClcRsX1pT0d_j8BwBZtcECnI7jsWjlgI-xy= jQ78DJpKTcXM1OSVB4-COzzTiv4P8ffeNJ8VQCU) # https://r.news.bizavltd.com/mk/cl/f/SjMpoPBhTCcOVxPvplExZGG6_S_gNSxjF3jVqmL= 9zwQT4bZdARbdOmK5zHeuzloLteC0LsagSzd0kTSUzuNN_jn_psHHiW5c6yEdihRowDPAKr7e8g= u6aGXQH-D4TmgJiWfhz0ySEocgugsVU8UK20k_ND9WfVbWKFBE4kFdIJH777EA9UWYmF51H4FPH= k5jbKDwUgPXxN7XqEY0rqiq0PrHM517KnzLYA-gXivAUqbxqfa5yWW89qssG_govjeetDEBBRE7= YJjDKcKpex0fsAeekgorNrz7zsG9-mNu5iSE4qo2U6J7LNg4snp7ROJpjoqlJLVJ_1f1LJezqj2= OPZFb5JYKBiEOgu6_WwGvUU7Q7t6Jp-gizwq0JQiS0b8038qxMxyNbaqdW_RAE98nItjmqeemHx= ydQEfiXAEDnUhy_mbZEHJf5A # [["bizavltd"]](https://r.news.bizavltd.com/mk/cl/f/aXXjhDzok5eoXJyRXeHDr5BC= icNy7hGwxCeHSUnJ-TF3N9FoTmDMRHIE7MZTDwUHxmH7Tp1dGf6BDUdN1uZE6Ee2qq8-lSBce1F= U1ceXmZkrIuoZgaIrIDwXGZkAoI72N-NwK52ouGCiAa-ZpIfNQ8aaZl-8E2sBRo6MHbZdt_IAh9= 7hE4R-hNtgwivEIDFMacWQlNIanpkToW0oXPFk6KKntxgplbcvLlxfZbNJJifKwU8HBffwECzjN= 7pcBV95TnNRmRk48SPMF85zQ_fCH9AoOja10OjuzxYvq1r5bXKCZajn3xi746FZ) # # March 2023 News Roundup # brought to you byBusiness Aviation Magazine # # VOO Announces a New Integration with FL3XX VOO, the B2B private jet marketplace that delivers instant bookings, has in= tegrated with FL3XX, the industry-leading aviation management platform, in = late February 2023. This integration covers the key functionalities to make= the charter sales more efficient and will facilitate traceable, effortless= , and flawless operations leading to instant bookings. By synchronizing the schedule with VOO, the digital B2B marketplace for pri= vate jet charters, users are able to search, book and pay for all their cha= rters based on accurate and real-time information. FL3XX automatically send= s all booked flights to VOO, delivering real-time availability and aircraft= location information that VOO uses to calculate and provide accurate and v= alid charter prices. Additionally, operators can synchronize each VOO booking with FL3XX to rece= ive the same benefit. FL3XX bookings can be processed in FL3XX, and VOO boo= kings in VOO.flights without conflicts with aircraft availability. FL3XX in= tegrates the entire workflow of an aircraft operator from sales, scheduling= , and dispatch all the way to training, reporting and maintenance managemen= t. By delivering solid value in quoting, charter sales, scheduling, flight = and duty logging, invoicing, customer management and reporting, FL3XX incre= ases bottom line efficiency of any flight operator by more than 20%. For its part, VOO calculates accurate quotes, so brokers can book instantly= , and payments can be made 24/7 with VOOpay, even on weekends and holidays = =E2=80=93 all with maximum speed and high security of data transfer provide= d by VOO. =E2=80=9CWe are excited about our new partnership with VOO, which will enha= nce our FL3XX users=E2=80=99 charter sales experience by providing greater = efficiency and flexibility. With this collaboration, syncing the operator= =E2=80=99s schedule with VOO=E2=80=99s marketplace is now a breeze, making = the sales operation more streamlined and seamless than ever before. We look= forward to the possibilities this partnership will bring for our valued us= ers.=E2=80=9D =E2=80=93 Paolo Sommariva, CEO & Co-Founder. # https://r.news.bizavltd.com/mk/cl/f/Q1NekzaNYAjASv7joiegBN7YUgpueX-ZuEZcxFP= V4mgVDQR-6qkWg_v_bo9koN0-QEMJ0rJUI1homnI_Lndx2iHNrX2eBUmRxaWxhxHJIVFsMW4lOB= p_RDho3aj-J7Msk1bJkgT4nAKftJKq__L86iTUB0e7wdIojKzItQOOWi6fpj2MAUCVM3hYzrHrg= J1E8Ilj1rHDLzEnASWtnSdyMgYcXL0aSi2vLeyO59aaWrlOIRvX61ZLAqx5pQVtc_zzKh_DF1Ra= K0NSXzdcv1Xg5V9mdgauAQ7AshSWYZ2eoWfVKD6StcBz5zrYYibzTK2hYF0 # # Axis Jet Adds Citation CJ3 to Charter Fleet Axis Jet, a Sacramento-based aircraft charter, sales and management company= , announced the addition of a Citation CJ3 to the company=E2=80=99s air cha= rter fleet. The 2005 seven-passenger light jet will be based at KMHR =E2=80= =93 Sacramento Mather Airport and offers a wider, quieter cabin than most a= ircraft in its class with 65 cubic feet of external baggage area. It=E2=80= =99s 1,000-mile range and climb performance makes it a favorite among pilot= s and travelers alike. =E2=80=9CThe addition of the CJ3 is a real boost to our ability to offer se= rvice in one of our most popular and versatile models.=E2=80=9D said Amber = Pancaro, Flight Coordination Manager for Axis Jet. =E2=80=9CThis aircraft i= s a nice compliment to our growing class of CJ charter aircraft.=E2=80=9D To see a virtual tour of this fine aircraft, visit the company=E2=80=99s we= bsite at [www.axisjet.com](https://r.news.bizavltd.com/mk/cl/f/EWTupoc694vQ= oawAE4lRhx0w1XSZBADEDJ7jDx9DsmP8ag0mHBpKB4HrGV_ZcV-l_JXUNWH7JG4_AUP3d-sM_z1= sxxyXuWfSGZ-yD31rahI0R-cs9HUR56Y1UJEw9ro3LW0D_kGKknhFpgvNvymf_iCvGg5psN-2gm= vxsKLdjfMmZKwMrGGBVTuh7tt-150_6TJsxq4iOzxDI3ooxb_pVMkUrAsUA22QtUYrKaFmCrO0-= Hm-hdM2PVUkOKNclHSOwdUNpFe1w92pfxj1Xv66v7Dwv7VeZ9u7S56RAmEfJhVTVCvg3RmDPeII= jQ_HCQ). Axis Jet is an aircraft sales, management and charter company head= quartered at the Sacramento Jet Center at Sacramento Executive Airport (KSA= C). Axis Jet is a division of Axis Aviation Group, Inc. and is a member of = NBAA, NATA, NARA and is a Wyvern Registered Operator, as well as rated ARGU= S Gold. To contact Axis Jet, email fly@axisjet.com, visit [www.axisjet.com]= (https://r.news.bizavltd.com/mk/cl/f/cJhOYTgU9Um4yrSQA-i8sMzWIgceOs-SECIKVo= Hb2QJhU86kky5niMDbZYrXyW_c1r5MjyW3cnyjPNIY02aRhX0uLYzkZxXBgKTofvBgLiNWrcqm3= ssy4Yeleo95iNibz5W6zs-l5LVkxTPpWIWc2dV_I-Aai2toRaOHxdMecnUcjP1HZ65pEe4NF8e8= MsQnDh7C66v_qOOoljuRToQ6BoR9TNi0__nL-8VeGx9cplCLyeE0pKdYyr2dgGlrVhSKfI3CAaA= t4cBulMOgE5tYfb3BgLo0wTm_yF8WHL07__CEmwtsy2AZzzHaPFC0Gw) or call 916-391-50= 00. # https://r.news.bizavltd.com/mk/cl/f/k8bsvSBu95NvsbBwvUfaWJTBWfCYVD5Ei2zvhLz= BUB3t91M1MCkSXw5AaKawX8RmdPNKDRBvLXOztOzN47a-XVc7tqED-P3geaWOWtHiWq20gDsKzj= 80cHmC08rFZXWdis403zvb3xQvIM9_6U8k1xVT_-VBTYtFKo_JXXBcoGNvAZbRZ13ZKvfxD9qBx= nf-tsv-6Scqyl5q4HgE1WDhVJvtnwC-1XdsqI12p-z6JScwY_13LQQda4GBdl7gwXSJ7RAYQPuy= KQXdNucIecNJfpzFcvzHWl--wFPD_x0V_fgvv75jEEcidET2oo1iUiI # # Bombardier Updates 2025 Strategic Objectives to Reflect Strong Performance = and Solid Business Fundamentals On 23 March, Bombardier hosted its 2023 Investor Day. =C3=89ric Martel, Bom= bardier=E2=80=99s President and CEO, along with Paul Sislian, Executive Vic= e President, Aftermarket Services & Strategy, and Bart Demosky, Executive V= ice President and Chief Financial Officer, presented an overview of the com= pany=E2=80=99s solid progress made, together with new opportunities for div= ersified growth. =E2=80=9CIn 2021, we laid the foundation for a stronger, more resilient and= predictable Bombardier by 2025. Halfway down the road, we can say we are d= elivering on that promise,=E2=80=9D said Martel. =E2=80=9CAll of Bombardier= =E2=80=99s strategic priorities are on track or ahead of plan. We are there= fore proud to announce today that we are confidently raising the bar. =E2=80=9CThe future is bright for Bombardier. While we are carefully monito= ring the current market situation, we know that we have all the ingredients= in place to remain a driving force in the industry. Our financial performa= nce allows us to secure our vision for the future, and enable our exception= al, dedicated and passionate teams to lead the way toward more sustainable = aviation.=E2=80=9D Updated 2025 objectives reflect strong execution and confidence in business= fundamentals. Based on strong business execution and fundamentals, Bombard= ier announced that it is updating its 2025 objectives. The company is now t= argeting more than $9 billion in annual revenue by 2025, with an adjusted E= BITDA(2) of more than $1,625 million, and a healthy adjusted EBITDA margin(= 3) of approximately 18%. Bombardier also expects to generate significant free cash flow in the comin= g years, to the tune of more than $900 million per year by 2025 and will co= ntinue to de-lever its business, now expecting to reach a net leverage rati= o in the range of 2.0x to 2.5x. Between 2020 and 2022, Bombardier=E2=80=99s revenues grew 23%, to $6.9 bill= ion. The expanded aftermarket business was an important contributor, with r= evenues increasing by more than 50% in the same period. The company more th= an quadrupled its profitability to $930 million in adjusted EBITDA, and gen= erated $835 million in free cash flow over the last two years. In terms of deleveraging, Bombardier kept up its opportunistic and proactiv= e approach and has reduced its total debt by $4.5 billion, when including t= his year=E2=80=99s debt-related transactions, a 45% reduction compared to 2= 020. This also resulted in credit rating upgrades from both S&P and Moody= =E2=80=99s in 2022. With continued strong demand in the medium and large business jet categorie= s, Bombardier says that it is well positioned with its industry-leading Cha= llenger and Global platforms. Over the past two years, the company introduc= ed the new Global 8000, an evolution of the industry flagship Global 7500 a= ircraft, further solidifying Bombardier=E2=80=99s leadership position in th= e large jet segment. Bombardier also upgraded its best-selling Challenger 300 family with the Ch= allenger 3500, an addition that has maintained Bombardier as the leader of = the super mid-size market. Thanks to its outstanding portfolio, Bombardier = had the highest number of deliveries among business jet manufacturers for t= he last two years, as reported by the General Aviation Manufacturers Associ= ation (GAMA). Bombardier has invested significantly into its aftermarket business since 2= 020, and it has played an important role in the diversification of its reve= nues. The company=E2=80=99s service footprint has grown by close to one mil= lion square feet of new capacity worldwide, and its Aftermarket team has ad= ded more than 250 skilled technicians to its ranks. The strategy is working: Bombardier has increased aftermarket revenues more= than 50% since 2020, and is on track to meet its goal of $2 billion by 202= 5, with clear opportunity for growth beyond that point. # https://r.news.bizavltd.com/mk/cl/f/gQwGkdVN5vAZz4pmcNDUQ37sVrO6fs5DBZRqrcs= Tc2YvTFDMtdJYyc92YyHJZUC0ohiBOVzbZHXzU12EvO6G1EWhCjFU_uDaWvqAgraI8wAmCsbbGU= oNsuxzr_KSRH5W3OQpzlP0OypdnBakuW-r73ufHG-IS96qdjc6SJp9FrGSmUR5NY4o9vIQBqp-J= GEgNOaLk811zxBs5yLcah8cRFzAh4ztd3N0xPZeS-qq1cHcQxHXWYRVGwIs_5g73nZ5HxfoQMbu= cgUbiQggfu1hcYCUXCZ8C4oUEtwznVqEFQaFP10NAfDg4bOU4pxwGrbdlA # # Belize Ministry of National Defence and Border Security receives first mult= i-mission Cessna Grand Caravan ex-Aircraft Textron Aviation Inc. today announced it has delivered a special mission Ce= ssna Grand Caravan EX aircraft to the Belize Ministry of National Defense a= nd Border Security. The Foreign Military Sale (FMS) contract was executed b= y the U.S. Army Contracting Command, Redstone Arsenal, Huntsville, Alabama. The Cessna Grand Caravan EX aircraft is designed and manufactured by Textro= n Aviation, a Textron Inc. (NYSE:TXT) company. =E2=80=9CThe Grand Caravan EX delivered to the Belize Ministry of National = Defense and Border Security will be used as a multi-mission platform for In= telligence, Surveillance and Reconnaissance (ISR), Casualty Evacuation (CAS= EVAC), Search and Rescue (SAR), Air Mobility, Light Air Drop and other oper= ations as necessary,=E2=80=9D said Bob Gibbs, vice president, Special Missi= on Sales. =E2=80=9CThis is the first Caravan EX in the service of the Beliz= e Ministry of National Defense and Border Security.=E2=80=9D This Grand Caravan EX is fitted with an Electro-Optical/Infra-Red (EO/IR) s= ensor, operator mission console, tactical radios and data link. Textron Avi= ation will provide pilot, mission operator and maintenance training, as wel= l as an in-country field service representative. The Cessna Caravan platform has seen more than 3,000 aircraft delivered tha= t are certified in 100 countries with nearly 24 million flight hours amasse= d worldwide since the aircraft was introduced. Caravans fulfill roles for m= ultiple missions, ranging from flight training to recreation, commuter airl= ines to VIP transport, cargo carriers and humanitarian missions. The Grand Caravan EX aircraft is known for its dependable and efficient per= formance by regional airlines, charter operators, cargo carriers and specia= l mission operators worldwide. The aircraft offers an impressive output of = 867 horsepower and a rate of climb of 1,275 feet per minute. A Textron spokesperson said: =E2=80=9CWhen government, military and commerc= ial customers want airborne solutions for critical missions, they turn to T= extron Aviation. The company=E2=80=99s aviation solutions provide the high = performance and flight characteristics required to address the unique chall= enges of special mission operations.=E2=80=9D # https://r.news.bizavltd.com/mk/cl/f/vd1jYVQZi6POurk9vlnWwO-QdO1qqT_KmdBa3If= ui5czI9WFkI8GwVLpauTKkuvnYW8KYJPydZe1Ix7BowKx55g6EucFlxyQr4dvhJ1YIaBqxOe8mQ= ajgCK-73_gM_RJXIp5wII43h2GM968S7HSY4QEIWZeh9g3yeao_QaCNsI1Jn5XW-SQGqCgREd6M= X-tzQAhMvm_3w73Lu_jWecAw9SUI08X_ItKZoxHxU1peXZCrmPboR_EKvicy8Xr7SrDN0ssiE_W= pWl0-grQN1h94BT0hOfT8honIW1LScyoupEEGIDxppuXstfbVAMyjGsmwvvv_w # # Avfuel Helps Neste Supply SAF to Boeing Boeing will purchase 5.6 million gallons (21.2 million liters) of blended s= ustainable aviation fuel (SAF) to support their carbon footprint reduction = strategy through 2023. The total volume of Neste MY Sustainable Aviation Fuel=E2=84=A2 supplied is= approximately 1.7 million gallons (5,200 tons). The blended SAF will be su= pplied to Boeing by Neste=E2=80=99s partners EPIC Fuels, Signature Aviation= , and Avfuel. Boeing has agreed to purchase Neste MY Sustainable Aviation Fuel=E2=84=A2 s= upplied by EPIC Fuels, Signature Aviation and Avfuel to power its U.S. comm= ercial operations through 2023. These fuel purchases more than double Boein= g=E2=80=99s SAF procurement from last year. Neste=E2=80=99s SAF will be ble= nded with conventional jet fuel at a 30/70 ratio to produce 5.6 million gal= lons of blended SAF. =E2=80=9CAs one of the top aircraft manufacturers in the world, Boeing is s= ending a clear message to the entire aviation industry through this purchas= e that SAF is a key solution to reduce greenhouse gas emissions from flying= ,=E2=80=9D said Michael Sargeant, Vice President Americas, Renewable Aviati= on at Neste. =E2=80=9CWe are proud to be a part of this collaboration along= with our partners EPIC Fuels, Signature Aviation and Avfuel.=E2=80=9D EPIC Fuels, Signature and Avfuel will supply blended SAF for Boeing=E2=80= =99s ecoDemonstrator program and the company=E2=80=99s fuel storage in Wash= ington state and South Carolina. Additionally, EPIC Fuels and Signature wil= l supply blended SAF for generating emissions reduction benefits for Boeing= to allocate for company operations including Dreamlifter and executive fli= ghts, and commercial airplane deliveries. In 2021, Boeing committed to deli= ver its commercial airplanes capable and certified to fly on 100% SAF by 20= 30. SAF is a next generation aviation fuel providing a more sustainable alterna= tive to conventional, fossil based jet fuel. It is widely recognized as a k= ey lever to achieve aviation=E2=80=99s emission reduction goals. Using Nest= e MY Sustainable Aviation Fuel=E2=84=A2 reduces greenhouse gas emissions by= up to 80%* over the fuel=E2=80=99s life cycle, compared to using conventio= nal jet fuel. Neste=E2=80=99s SAF is made from sustainably sourced, 100% renewable waste = and residue raw materials, such as used cooking oil and animal fat waste. S= AF is certified for commercial use and can currently be blended up to 50% w= ith traditional jet fuel without modifications to airplanes, engines or fue= ling infrastructure. # https://r.news.bizavltd.com/mk/cl/f/nmYHZugjHWH1koJ-2he2Nz13P8fCeswRf7qm-hW= SsU1kguUQOO9w0J8cSmhLMKmBR0MopsA8kdRVUbyfJT06x2OkiNcB4Gmb1NYBr05RdYrzxrDlA0= zFP801_H0ClVQww8R4o6ovsfP33q7galELPH5-LEyUYvqjX5bOaSoKYKzdAiSO-hhSq10pddNJk= vW9AkHWCWMb-oRDim4chyUd5FIqItG_FOQQEwfHYimzdszVFEqmKwe8Vj4pWlrXl_N_bjwcgSdN= lH6_OftJk6CZvQ0zE4yearu-i8wt32G_odXisM_Kg0VPxN7BQWddRWrj # # Pilatus Reports One of Its Best Years Ever The 2022 financial year was a very successful one for Pilatus. The company = benefitted from high demand, despite the unpredictable period. With sales o= f 1.3 billion Swiss francs, operating income of 226 million Swiss francs an= d orders worth 1.6 billion Swiss francs, Pilatus achieved a very positive s= et of results. Pilatus improved yet again on a very successful performance in 2021. 40 PC-= 24s, 80 PC-12 NGXs, 10 PC-21s and 3 PC-6s were delivered in 2022. In the Ge= neral Aviation Business Unit, for example, a purchase agreement for over 20= PC-12 NGXs was signed with the US company Tradewind Aviation, virtually do= ubling this business airline=E2=80=99s fleet. 2022 also brought its share o= f major challenges. Pilatus had to contend with disruptions to supply chain= s, which impacted negatively on production operations. Markus Bucher, CEO of Pilatus, says the past year was very positive overall= : =E2=80=9CRarely has the company had to operate in such a geopolitically u= npredictable period. Never before have we encountered such serious supply c= hain difficulties. Pilatus has achieved a lot whilst also benefitting from = exceptionally high demand for our unique aircraft." Hansueli Loosli, Chairman of the Board of Directors of Pilatus, adds: =E2= =80=9CI=E2=80=99m very happy with the year-end results and the Pilatus team= performed very well. Our PC-12 NGXs and PC-24s were, and are, absolute bes= tsellers, our order books are full. No new orders for trainer aircraft were= signed last year, but the demand is there in Government Aviation as well, = and we receive a high volume of enquiries. I=E2=80=99m very confident that = we will reel in an order soon!=E2=80=9D Aircraft deliveries account for a substantial share of the business results= , but the customer service business continues to grow as well =E2=80=93 by = around ten percent over the past year. Last year also saw Pilatus acquire S= kytech Inc., the US Sales and Service Centre, gaining another 93 full-time = employees overnight. Skytech will continue to sell and service PC-24s and P= C-12s on an independent basis along the Eastern Seaboard. Breaking with the tradition of the past 25 years, the 2,300 employees at th= e headquarters in Stans, Switzerland, will no longer receive a bonus paymen= t. In return, Pilatus will raise monthly salaries by incorporating the maxi= mum bonus payout in order to better meet the expectations of all employees.= This change will make Pilatus even more attractive as an employer. The new year has also got off to a confident start and promises many highli= ghts: the construction of the maintenance hangar in Buochs will start by mi= d-2023. And delivery of the 2,000th PC-12 and 200th PC-24 will go ahead dur= ing the current year. An additional building for the production of composit= e components is also planned at the Ennetb=C3=BCrgen site. Further proof th= at Pilatus remains firmly committed to Switzerland as a centre for ideas, w= ork and training! # https://r.news.bizavltd.com/mk/cl/f/xJ2iPzsdrSx-EgvhVoCm9DkvMKJ0QFP75bwFHLC= 157mxsxFlAHp7yyQNVBSDZ1CYeKpZt3HbonDPSuYvHi6J5m588lc6vaDOYgV9kAbw7U9-l3Gx1G= RlCPakPifxG8Nx8LDvgVHje9phff_-wZpySs2RD9Ywo91RktPCTImiKnWUXI2tAeSQ-QUY1ZymX= mej0nEuOcE53GkugZlnrVEg0J8fnrjIxhiO7Am9MmFrW-eJh-wIw7ZyXIBwUnV64c9IER7ekQgV= wNMJ9TgkV7s0ztfN3WVKhIKPEZBu-dz-oKZS3oqyRA2bDD-X # # Duncan Aviation reconfigures Falcon 900EX Duncan Aviation is excited to showcase this Falcon 900EX that was completel= y transformed and reconfigured at its full-service MRO facility in Battle C= reek, Michigan. The aircraft features a new credenza, eye-catching center d= ividers, and unifying details that give the interior a dramatic and modern = style. When the aircraft arrived in Battle Creek, it lacked the character and uniq= ueness the customer wanted. To create the interior desired by the owner, ab= solutely everything in the interior was touched or replaced as part of the = refurbishment. =E2=80=9CIt had a very traditional corporate jet interior,=E2=80=9D explain= ed Duncan Aviation Lead Designer Heather Pridemore. =E2=80=9CThe cabin fini= shes were dated and consisted of dark red wood, beige tones, and a world ma= p on the conference table.=E2=80=9D The customer wanted a stately, black-and-white aesthetic. He also wanted to= add more seating, along with an area to lie down and relax. To accommodate= the owner=E2=80=99s requests, the Duncan Aviation team removed the single = seat in the aft cabin, replacing it with a three-place divan. A new credenz= a was designed, fabricated and installed with a contemporary seating surfac= e. To create privacy while keeping the cabin =E2=80=9Copen,=E2=80=9D they crea= ted unique partitions with transparent acrylic panels accented by veneer. =E2=80=9CThe customer wanted privacy while lounging in the aft cabin, witho= ut feeling cut-off from the rest of the aircraft,=E2=80=9D explained Pridem= ore. =E2=80=9CThis creative divider design was the perfect solution!=E2=80= =9D The team incorporated subtle design cues to streamline the interior, such a= s running the veneer grain forward to aft, updating the lav vanity to a mod= ern, straight look, and installing new light lenses. With all of the changes taking place in the interior, the exterior required= the same amount of attention. A new paint design was created to meet the o= wner=E2=80=99s expectations of an equally modern design on the exterior. The exterior layout included a black-and-white, two-tone design with metall= ic silver accents to give a bold presence on the ramp. The sleek lines and = flowing curves evoke a sense of speed and motion. As the lead designer on the project, Pridemore is thrilled to see the final= project and how the Duncan Aviation team was able to check off every box o= n the owner=E2=80=99s list of upgrades. =E2=80=9CThere were a lot of new ideas put into the interior,=E2=80=9D said= Pridemore. =E2=80=9CWe all worked together and explored new designs to rea= lize the customer=E2=80=99s vision. I am so proud of all of our team member= s in helping create such a unique and beautiful aircraft!=E2=80=9D Duncan Aviation Completions Sales Representative Suzanne Hawes said she enj= oyed seeing the detailed work and pride all the shops put into the aircraft= . =E2=80=9CIt=E2=80=99s a beautiful showpiece,=E2=80=9D said Hawes. The aircraft also received a 3C Inspection, API Winglets, LED lighting, and= display upgrades. # https://r.news.bizavltd.com/mk/cl/f/JadT1U65V9TUyY76IWKpBU7QQ1LAF6AZ9K0IdLr= W7pw8Y1Q6ojFeDth8a2y3_exOr5XaeNE2kg0muYdMJHfrY92I4uO5HJ_zdWAGEJzmy_Br2iaRBB= N7NOpA1C7O24maoiHuKjWMbhE2abhjYpl0mWQ8-ZGiMA75krp1OIQN-OGUDiogVygPLqEG99w00= vXLdOgDBUMSTS-mNn02uV6b-SIBUBPdKcXy77dNTpiusgOLoOJwVsgvblt7Vmow1iIjZWf8nK7u= t5RFS-SgiK3vjIfvqF9It_sSEaZsWJLOaf2JrWkY2r_GIQr7eY-g7QWmzT3AtgJPFkPvkNS3GO_= 70UXJPsdQZi0l9obJIg # # Gogo Announces Record Fourth Quarter and 2022 Results, Provides 2023 Guidan= ce and Updates Long-Term Targets Gogo Inc., the world=E2=80=99s largest provider of broadband connectivity s= ervices for the business aviation market, has announced its financial resul= ts for the quarter and full-year ended December 31, 2022. Q4 2022 Highlights - Record total revenue of $108.2 million increased 17% compared to Q4 2021,= fueled by strong growth in both service and equipment revenue. - Record service revenue of $77.3 million increased 12% compared to Q4 2021= and 3% compared to Q3 2022. - Record equipment revenue of $30.8 million increased 34% compared to Q4 20= 21 and 2% compared to Q3 2022. AVANCE equipment units shipped totaled a record 390, an increase of 36% com= pared to Q4 2021 and a slight increase compared to the previous quarterly r= ecord set in Q3 2022. Total ATG aircraft online (=E2=80=9CAOL=E2=80=9D) reached 6,935 an increase= of 8% compared to Q4 2021 and 2% compared to Q3 2022. Total AVANCE units online grew to 3,279, an increase of 31% compared to Q4 = 2021 and 6% compared to Q3 2022. AVANCE units comprised more than 47% of to= tal AOL as of December 31, 2022, up from 39% as of December 31, 2021. Average monthly revenue per ATG aircraft online (=E2=80=9CARPU=E2=80=9D) of= $3,370 increased 2% compared to Q4 2021 and decreased slightly compared to= Q3 2022. Net income from continuing operations decreased to $27.7 million from $209.= 1 million in Q4 2021. Q4 2022 net income from continuing operations is net = of a $3.0 million income tax provision compared to an income tax benefit of= $187.7 million in Q4 2021. Diluted earnings per share from continuing operations was $0.21 compared to= $1.57 in Q4 2021, driven primarily by the income tax benefit in Q4 2021. Record Adjusted EBITDA of $46.2 million, which includes approximately $1 mi= llion of expenses related to Global Broadband, increased 17% compared to Q4= 2021 and 6% compared to Q3 2022. Cash provided by operating activities from continuing operations of $31.5 m= illion in Q4 2022 increased from $30.3 million in the prior year period. Free Cash Flow was $25.0 million in Q4 2022 compared to $25.7 million in th= e prior year period and increased from $8.5 million in Q3 2022. Cash, cash equivalents and short-term investments totaled $175.3 million as= of December 31, 2022 compared to $152.2 million as of September 30, 2022. = Cash and cash equivalents reflect the Company=E2=80=99s September repurchas= e of 1.5 million shares of common stock for $18.4 million in a private tran= saction. Full Year 2022 Highlights - Record total revenue of $404.1 million increased 20% compared to 2021. - Record service revenue of $296.3 million increased 14% compared to 2021. - Record equipment revenue of $107.7 million increased 42% compared to 2021= . - Record ARPU of $3,349 increased 3% compared to 2021. Net income from continuing operations decreased to $92.1 million compared t= o $156.6 million in 2021. The prior year included a $187.2 million tax bene= fit. Adjusted EBITDA of $173.8 million increased 15% compared to 2021. Cash provided by operating activities from continuing operations increased = to $103.4 million compared to $66.7 million in 2021. Free Cash Flow increased to $57.8 million compared to $49.4 million in 2021= . =E2=80=9COur equipment revenue surged, which bodes well for future service = revenue, as Gogo met extraordinary demand for inflight connectivity and del= ivered a 50% increase in equipment shipments despite global supply chain co= nstraints in 2022,=E2=80=9D said Oakleigh Thorne, Chairman and CEO. =E2=80=9CWe=E2=80=99re also on track to commercially launch our 5G service = in Q4 this year, and our LEO-based Global Broadband product in the second h= alf of 2024.=E2=80=9D =E2=80=9COur strong financial results underpin our confidence in our financ= ial targets,=E2=80=9D said Barry Rowan, Executive Vice President and CFO. = =E2=80=9CWe have extended our long-term revenue growth target of 17% from 2= 022 through 2027 and reiterate our target for over $200 million in Free Cas= h Flow beginning in 2025.=E2=80=9D 2023 Financial Guidance and Long-Term Financial Targets The Company is providing the following guidance for 2023: Total revenue in the range of $440 million to $455 million. Adjusted EBITDA of $150 million to $160 million, reflecting operating expen= ses of approximately $30 million for strategic and operational initiatives = including Gogo 5G and Global Broadband. Free Cash Flow of $80 million to $90 million. Free Cash Flow includes capit= al expenditures of approximately $30 million to $40 million, of which $20 m= illion is tied to Gogo 5G. The Company provides the following long-term financial targets: Revenue growth at a compound annual growth rate of approximately 17% from 2= 022 through 2027, with Global Broadband contributing to revenue beginning i= n 2025. Annual Adjusted EBITDA Margin in the mid-40% range by 2027. Free Cash Flow of more than $200 million beginning in 2025 and growing ther= eafter, consistent with the prior target. The Company=E2=80=99s 2023 financial guidance and long-term targets include= Gogo 5G and Global Broadband but do not reflect the impact of the Federal = Communications Commission=E2=80=99s Secure and Trusted Communications Netwo= rks Reimbursement Program (the =E2=80=9CFCC Program=E2=80=9D), as the Compa= ny awaits further information regarding whether Congress will appropriate a= dditional funds. # https://r.news.bizavltd.com/mk/cl/f/UGdL4DTbYo-eZIUG4YTx8De4s9CHrGoswmNvt6s= MhAu943ol2MrLpGsaIqOfeA8yyH9xb0rZOivpqjzLH59y62Ir7MMYTHYkldELOGH8TJ-L6cVRxj= g21XEpQb7aY39wdpAK_l504GWnQDDFfJcyoSrjEXcbI79Lc20Wwne-v5hf25N0rGPrb3HHZadL_= FiCYtO39tbSpnzI30mEvV2EnWmEwx4G_qKfz1ZXWvOCHCOMNxEjlU979DR-R53afd4aPP-U0DH2= 3cY-VSLJHHJCjZMKwESw9N5TB5GjX_xNX1Q-eq_1UOpg8Xq_iAnRy7DwJq7_ktoyWOxljr6pCBr= i # # Bestfly and Krimson Aviation form Joint Venture, BFK Aviation, to support d= evelopment in emerging markets Angolan aircraft operator Bestfly and Addis Ababa-headquartered flight supp= ort, charter, and aviation consultancy Krimson Aviation, have formed a new = Joint Venture, BFK Aviation. The entity brings together two powerhouses of = business aviation in Africa with the sole intent of supporting the evolutio= n and growth of the industry in emerging markets around the globe. Bestfly and Krimson Aviation, under the leadership of Nuno Pereira and Dawi= t Lemma, respectively, have been integral in establishing the foundations o= f the sector across the vast continent of Africa and now intend to share th= e accumulated knowledge and experience with stakeholders seeking to optimiz= e its benefits in new and evolving markets. Demonstrating the value of the proposition, the first partnership agreement= has already been signed with Xen Aviation, the Georgetown, Guyana-based op= erator and aviation services provider. BFK Aviation will support the needs = of Xen Aviation=E2=80=99s expanding flight and ground services for current = and future operations. Bestfly, already well versed in supporting the oil and gas industry in Ango= la, will provide aircraft operational know-how, while Krimson will provide = all ground support and maintenance service intelligence. The signing follow= s the success of the Guyana Energy Expo, held in Georgetown in February, an= d highlights the rapid growth of the oil and gas sector in Guyana, and the = surrounding region, which is driving increased demand for rotary and fixed-= wing operations. Bestfly is Angola=E2=80=99s largest business aviation services provider ope= rating a fleet of some thirty aircraft including turboprops, executive jets= , regional airliners, and helicopters flying within Angola, Africa and inte= rnationally; as well as a commercial operator flying scheduled routes to Ca= bo Verde. As one of the first African aviation companies to be granted IS-B= AO status, Pereira and his team are familiar with the rigour and quality re= quired to meet and exceed international standards and customer expectations= . Krimson Aviation has expanded significantly since launch and provides a r= ange of ground handling, trip support and consultancy services for aviation= customers in more than twenty African countries. Bestfly is one of the founding members of the African Business Aviation Ass= ociation, and Pereira, as a board member, was critical in securing its inau= guration and subsequent successful development. Lemma has also been a signi= ficant force in the association's development and is VP International and a= board member. Their collective experience of shaping the evolution of Afri= ca=E2=80=99s business aviation development, mutual extensive global network= , and understanding of what it takes to affect a positive change in the per= ception of business aviation, intra- and inter-continentally, positions the= m well to support commercial, sustainable transformation in evolving market= s. =E2=80=9CUndoubtedly, we can enable and enhance credible operations in chal= lenging and dynamic operating environments. We want to harness this very sp= ecific knowledge and understanding to support stakeholders in nations that = want to maximize the sector's benefits but are still at the early stages of= development,=E2=80=9D says Lemma. Pereira adds, =E2=80=9CAt Bestfly, we have worked extremely hard to create = aircraft operations that are internationally respected, and we are known fo= r our professionalism, excellence and reliability as we have a real underst= anding of what it takes to service the changing demands of our internationa= l oil and gas, mining and agricultural customers.=E2=80=9D =E2=80=9CWorking with BFK Aviation will add value to our existing operation= s, support the development of new standard operating procedures, and we kno= w will raise the bar wherever we work to implement best industry practices,= =E2=80=9D adds Ronaldo Alphonso, Managing Director, Xen Aviation. =E2=80=9C= We=E2=80=99re excited for what the future holds for us, BFK and the busines= s aviation sector in our region.=E2=80=9D About Krimson Krimson launched in 2015 to provide aviation services with integrity and ex= cellence. Based at Addis Ababa Bole International Airport, the team offers = 24/7 support fulfilling a range of aviation services, including ground hand= ling, flight support, refuelling, charter brokerage and aviation communicat= ions. Customers originate from around the world to take advantage of the lo= cal expertise in Ethiopia and across Africa. Krimson offers full flight support, ground handling, charter brokerage and = other aviation services within Ethiopia and East Africa to a range of aviat= ion customers, including commercial airlines, business aviation operators, = and trip planning companies. Led by Dawit Lemma, a Swiss citizen of Ethiopian origins, the diverse team = of aviation experts is committed to service excellence combined with care a= nd discretion. # https://r.news.bizavltd.com/mk/cl/f/Toq6pkTZkt8FybnHgPZq4TFv24SZJ4n6uulRm2S= w09qR9677SVhVFHiuhlV8sPipYvXxD_UH3Eff2fGhPMGU3K9v-sNDLliskDXEqpCfXcAl4oTPjs= HTXWBrzRKQORNypAkyIJdMlZ57hAbNOz2wHg1g77-Khv4B4yIFVlsl4-ols2_KijSnWh4PV7gVq= nJCygtfiDRVKfMCxxAh0Y0nd2qrHUaZfh8Rp4vaKd6YbknqjbLbwLae--Tczi9wCZ5Vh5kaI6uw= 5lWa2laJLDocqQ-7PIDDBZjUu8jKp3KDvkUxq9xaUWNR8CM4YiR1y_Fz4RcIK4ScVw5R2W7CGH5= U # # # Air bp announces first sale of ISCC EU sustainable aviation fuel produced a= t bp=E2=80=99s Castellon refinery Air bp, the international aviation fuel products and service supplier, has = announced the first sale of International Sustainability and Carbon Certifi= cation (ISCC) EU SAF from bp=E2=80=99s Castellon refinery in Spain. The fli= ght was carried out by LATAM Cargo Chile from Zaragoza, Spain to North Amer= ica. This latest announcement builds on its experience of supplying ISCC Plus SA= F, first supplied in July 2021*. Underlining the role of co-processing usin= g existing refineries to meet SAF demand, this ISCC EU SAF is produced from= sustainable feedstocks processed alongside fossil feedstocks. =E2=80=9CThis latest announcement marks another important milestone for Air= bp as we work towards making SAF more available. As a key step in replacin= g fossil fuel with renewable feedstock within existing refineries, co-proce= ssing has an integral role to play in scaling up SAF production in the most= economical and efficient way. We believe that all technologies and pathway= s, and both standalone and co-processing are needed to help the industry de= carbonise and reach its goal of net zero by 2050. The supply of ISCC EU SAF= from Castellon will open new opportunities throughout the country and beyo= nd,=E2=80=9D said Andreea Moyes, Air bp=E2=80=99s global sustainability dir= ector. =E2=80=9CWe are proud to collaborate with Air bp as its first customer to r= efuel with ISCC EU SAF from the Castellon refinery. This flight represents = one of our most concrete steps in our SAF fuel agenda. As a group, LATAM is= committed to contributing to the protection and care of the environment, s= o this first fuelling reflects the importance of the collaboration of all p= layers in the logistics chain including AENA and Exolum," said Andr=C3=A9s = Bianchi, CEO of LATAM Cargo. The ISCC EU SAF supplied by Air bp is made from waste based sustainable fee= dstock which is procured by the Castellon refinery and co-processed togethe= r with fossil fuel. Currently co-processing of sustainable feedstock at up = to 5% is permitted within the jet fuel specification and bp has launched an= industry taskforce looking to increase this to 30%. This sustainable compo= nent has an attributed saving of around 80% carbon emissions over its lifec= ycle compared with the conventional jet fuel it replaces. bp aims to increase SAF production further in future and this week announce= d that as part of the Hydrogen Cluster of the Valencia Region (HyVal), its = production of biofuels, including SAF, is expected to increase three-fold, = to 650,000 tonnes a year 2030 in Castell=C3=B3n. Green hydrogen will be use= d as a feedstock for the production of SAF in an independent unit. Air bp has been enabling ground-breaking test flights and investing in sust= ainable alternatives since 2008. To date, the business has supplied SAF to = over 30 locations. # https://r.news.bizavltd.com/mk/cl/f/cyMGA35-dhL0DMr5qTfJOqXbDAMnnxWmOvfBDY7= VrdKXHrVs4pRMxO_HrlG1GWIMxGChbOFHCeOBg3zHzXna_CbR-Gsvo65uvMKdhGkA-D-k1CcZAq= i7OLYPa4LD7q2QKJJh0IoyO9U1AvE1DPd6d8Yws3tjzKw9qzbmySOwEtc7kjvKamBf14By_iDE9= e6CGA3FUxIN4SDPF-lQdxgwLGIdt1hwvbmzzQylli7sfWO8hdzuHG13wCK7eVY3WhHcT8QoSUNO= f4VwTM_gHsN3de_XJnAX0DSFiFLlFMN2k1AT1a3PmJx5M3UFBKufnxq9RO2SXGpf17mgzNbrZHe= _ # https://r.news.bizavltd.com/mk/cl/f/0CEZPBvjvKANpzhwbKijntGOHK8CLUugi2Uuodn= eIQhAAXK2-L44KCh24d9s_6tuVeFrJJT5qtiE-SNs5KAilz1qfz8wbH1bzggI3E1vhdEFe2iyZ5= -jpQJ0hR1Z1b6YMDtYgBEaGYl8lrOLtCTH40wxffPIbLxrKQWm16pkdBNsyeRc30C4ZarMMf8Hq= 2dIY9ByIvN4n5iTFiaizAwJc9dBAEfXiIv79Y97PoWRo1YGSw1DNenWvbZRoGqOrsuiAtxwVAx5= chUuBWd8mu0X9M6FAuKxkimCueRJgVAnvXOnC5yq75ztC9eFudrfDOE20IQFFeQsNecLGh5mBvd= cYYjVmscgl5XqDDw6AeVwHt74Znb9pYLhNOhFAVGn4n7ciWFP71p8HKz5HJmfyhfaT7ibUawVxW= nDV6dAUzn2fg # https://r.news.bizavltd.com/mk/cl/f/B236zrkwECKiJHQevtS-iBdNSzjlVtHrCZYAk3Z= vgwNyY5iO-Z4LqO8KypDNOOGQSaINGVEnHJMa1V49Vq1oBjOvnBKIio-Wcii8S9mPRQn9OzQDur= LkDlQUj_VAL89B15WGAeEbXETV0Ry9DqpX2k1_5KGJXWkgjieEHNQyGHSVUhSc0OZGuziCAybAc= l_KiuCJ0RvHDJ1lE0rN_E90t_NXWt8bU1BHxNFxIHwsbVCDVwERFQumd__HsxiPXVUKfP90EELe= MkMxcWCWZN8IfBVLwx4be-FNKJzT4iBNRt-oxNVbJDkEMFI5PCLBLhbJlpmIzP9ZZt1zCBX8rgE= P # https://r.news.bizavltd.com/mk/cl/f/_jUt43W72CCuUaeQohqvEgMJcksNIjgxOsYWs0z= aF-r-yGu3daovkuecFtWp9U5tmg31gRHCKGF7T_--hhx7qC_x-H7dnMnTho17cRMBaCD-HJA0pU= vH9vGgPM8RU3kk93Z3krz47vBDHsPsuZdnc9XnBXEibFXptS_ps3dNo9-cUjJxLax-MljvSFKBH= M9Pie8jHTgk1FNEX1IfgyR-B9BhPfXnfjIiumQpCMhp66wGlxbVuT0LU8erWlbdNGkHpzOxx4hj= ByAUsB1bJkFpJUzObnb8xWrtJ2Oms1KZ7_ipe7kSjJtWS3AGfMehIt26XA3u-PjJjN34lfN42Zp= 5 https://r.news.bizavltd.com/mk/cl/f/Je2Okfuz7QUnNdWBrQtERyfnYRKxIQdY_DeAr0f= 4eQ6syZGKry97I_3Zow056th4ON8Bjf1uztvbtbnbS3RR6CSvi6T2F6AZWj8O2MoHpd2oL9tcb6= EUeLxfP42Ik-u3b28NA4biPBZqYgtj8_6QAGL61RjFbBx0WwSQ2cV_xSaaqcZaUHGz691VWBrZf= fJSg9tzevqZPBn3u5onsyweXs48ZOKS_4jySH9Mi_JkMNOc4FyjGmFHSm2S3ktvd0X31ge2490j= OvOxbsS6Zg5gBBNV84XjY121VTR4YvMZuTb2fYg3OWv_lIIG2AdlvXqP-SsMq9YI-k01GXAJIl1= i # https://r.news.bizavltd.com/mk/cl/f/XtiAQhxrVaHx6xes3Pp8f0hv93GOz1LAdDaqCUO= VcZzDmzoGus6miDDN225pksIl_gVRt_vhyujZvkML_5Mzvr4UsxMq-57W6_9ElTH7if1jfBJmZO= I4NbzPSSQvPqa1ce_AECP5YK1Fj7241EVLtCD3MdyuWxYFwS_tcsTCuCg7AqFSormi8nAAnj_FI= yIZz87tz04Etj1HYTGNGv3zWJJwaRiegIhNpAgNYNj86XczMfFlPROtjqI9jFt5jj5xYcVKAKgo= 3mL5siuZPd4nShUx-XUg40ADrly85egKD5_XMR3Yqbu6LsYArN8RqrbMCWl5Y7dRkgitPN1eyah= k # In January 2021, BAM initiated our monthly newsletter blast going out to ov= er 150,000 executives across the business aviation industry. If you would like to have your latest press release considered for inclusio= n (we limit the NL to 10 - 14 releases) please get in touch with our publis= her and CEO, Max Raja, at max@bizavltd.com or on +44 (0)203 865 3736 The monthly newsletter represents a great branding opportunity and Max will= be happy to discuss pricing for advertising in the newsletter. # [Advertise in our next issue or news roundup](https://r.news.bizavltd.com/m= k/cl/f/H_VvLGs0Xf-DHXwKCq4gH4hpjswgsMIkYDdNV06y56fvEl6Lume4RlTMFbzel4xtBUJD= DbT_EQ1kAO7zPnKrYAaO-78qmdLm97TbEX48M9YNpSIUA-rKUBQ2AExM3QprToDWdRnDhJozXis= 9Haq9rzqKAvqXvEX0rJqTEK6vmBrxfzkUmNb81A--1FVj1aV1YOTKytyHl_PaeTK5sWuUu_uRNn= Ep7QSAv7ecuZKLG34kIBl5O9PFgzF09s8FFhFtotDGGO5mlSly8qVEkzDBWFMMqWQAIHDRSn3AX= 5UnZ7WQyi_aPJW9KiM1TxQhZ9QwOKkvuts7o1npMYbAfKvP) # https://r.news.bizavltd.com/mk/cl/f/z-YX90YMGc1ppjrk_qLHbR4Lc6pEOgY-YAAaT5l= NSd0G0PouqoaMEkkS12OfGqitVRJQX4l-RZGl1nxerF92KJEfDstDLWX1D1guRyJo3EiVTmusSO= xjvmEwFRkCB450nfRh2XBi-Cl9hscnURURAnU8MO_7f1AcIvGuM4Dks5ewvJst-l9XZ9db8Ssho= qqhzyoWwiAduwmNUKMWNCHkwbkXkfrDjBySacJjY2Px-2VJAKpjMHRYt_vvEGK2jC7_VO61bdUf= exwIMw-hyoVshCUjQTLj91GbTd7JOIxtrtP9WmoayRW9Elv4nG1ctMeRrWOVq85CXSEatBqWICN= 0fT4 # Business Aviation Magazine is a subsidiary of[BizAv Media Ltd](https://r.news.bizavltd.com/mk/cl/f/4oR= xFvrbJKbrId5H9P0tYDWgq5PQv1fFZqpSHlpS7eoOdLctmDsSqDCnHa7N9reGQsTkInXPOZL219= 0pzzeIvKAzPEfYckdQ58oQRetS3Rzl8CsTX5Z-H76jPohytB2kTwaxS9fg7orh-cJ58SV7IRkWd= -Uz9a7FFANoYQtmMwfwkoTysZDAmWklf3AxfD5gKbJIKvTdrbKL5C6VEWongFfOa--JP_Rv7PBC= JorFOf1r77VrqI8FoAOsH7Md1TbjQzyPH-3L3yhfeUWU5ZuP0hsRWZDzJaKdKNO8FnVKpXkzg33= KVihDrOHyrJ8TSg)[.=E2=80=8B](https://r.news.bizavltd.com/mk/cl/f/B6kp6s6Xux= Xeyng7g3dkwL5eMxok7_uzrFgkC3schdhzhDvlTL-nQLoLbP0wSiO0Zd6QO2WXJDRNrnvc307go= xsJPVt5CgtOsYZDeAkhdKy7G5qeAoLDHf5gCVgXvT4wuIhdFfCKw55yyAQw67mnWJYlW304hA2J= 7qz_WgRcnaJsmmTxVH5txyGOdZRNEB58nU5UddOx40Eft9-wlemrt6NobXHrRuYSotHmGXTkNZN= hwQlbVRClWpZUM-ycRQc_rs7LKwci7IEGZKub9gYmTDi95eYVHDMoVe3x5VyL-lHGaq6sEmh8WL= ns4gVEmw) [Twitter](https://r.news.bizavltd.com/mk/cl/f/ZV2bq1vyWMPhNFXks87ajcv5z7dHz= ql8KDXS09mcp4Mh-6i_D_2ass6-eMK1cEf-jH9IvVPZoFUDSrMYHE6XyLflwEYX1QbfXXImyBpl= ew9IktWesZdnhVIipdCMLUUNivZaEoFPL0b0Bsp9l8LK1jRwSzF7Ew-sRF009pG7ccmv7rd3x1y= k_GWoCa642bQKKSALuseWfX-vob3KeJoP0hcqUFOJmKFz3Bz0-77KDeAC5B8sZlFlOojueqDP1a= vwMLxqQqRm6nV2hRKXB9aUi9jKyhyGh--X5-VrXP5FHVbSVioJV94mLQDNpclFdxfPlyO_hA) [LinkedIn](https://r.news.bizavltd.com/mk/cl/f/U11j5Wo10n7rPkLAaDVwQl9rWNLp= cix-YwT-Ez5C-pdo2qTa_-qE-dmjw9kP44n2_S7pJKEn_Dvcutqns0BEPBt5c2M_V4sEeQbQWQa= GmPbJ4jJsGkrPwlEy0vC7aF-Ng0lqbDf1OTqp5AD1OwUeyAZzXKMqSvVoODxtzKv2Ak8rOC09ku= lqOElFvG9s-xq4aJznJHtbKDvFeL20kTXt_Uk9lDhIUsauu5mPDl42GM-mhMD_tD1S-TiiQDYqH= sav4mHjQynoHfjLo9AaoEaF5iykvy6b9Fwgzghg7Ysv-fz0YZ3LwlbkgbhGzQrYCqt_TaSFByUn= OoomOBthyVoKLQ) [Instagram](https://r.news.bizavltd.com/mk/cl/f/PuauSyfLXv7mEyjQMmED7swFINt= Z8ZvIjZudCeh1pSS0GIUPg6ZjVza7Q9MbTZupQB8tO8c_BxFJ93nKCVoFc_zWXcbDboADOZjP_B= b1thAuLAs19oF8B8DeYoXkI0TRrrymQJwud9Wua40GVtcGjn_aaw50LO9gIXUTCGxmlH3lb-E4u= pGXcqyGBJXDxfpwTG9LEFUe_5DCyV-V8cIpJDjMwo6dUJf_KXcNY3eOkdQU9l7bXIHe3gw7A8Ig= 3iD9zce_l_7s2mkjslumcxrhUdA9--HjKnO3WLeDfAZ3i5FHRaaHMWcWHKCo26_b0IFIouA2Knn= vPsW1-AMIPRsG) [YouTube](https://r.news.bizavltd.com/mk/cl/f/shazrXJwuimdG5cEOwjFZ_-UJiMd3= HUJ9DYSsSQg8PPZpPny4xAEwokIHLyfX1iLw7xSttbobgr4aqt64rq5svTUruoHsALyxMa--HF-= q2WGhZjK11vqO-A9rmz8Rz_MFgGmzGlv-xrscdFtuWMUUTf3FSOnvKe8jZG2X3JgC0ippwYqPi2= Jrh03cxSzi--opRapJ2FFApiy25vt24u69lShgjk6TmdWEcLO8UU14dAvyyXllRaX4O-f3Pdhzh= aTqEkL1qUjzI_Y8t46g8tnAeCZaXnQKAzCkHyVHuBsKIvHp1RLfdGB9JduyN8YXYBy-OjrwWrgH= Fcjohj1VBB_IEyhJPLhboBH9Kg0QRMXHRpiSNI) # This email was sent to commercial@safiranas.com You received this email because you are registered with BizAv Media Ltd. 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Latest bizav news Voo Bombard= ier Textron Gogo and more
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March 2023=C2=A0News Roundup <= /span>
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brought to you by= =C2=A0Business Aviation Magazine
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VOO Announces a New Integration w= ith FL3XX

VOO, the B2B private jet marketplace that delivers instant bookings, ha= s integrated with FL3XX, the industry-leading aviation management platform,= in late February 2023. This integration covers the key functionalities to = make the charter sales more efficient and will facilitate traceable, effort= less, and flawless operations leading to instant bookings.

By sy= nchronizing the schedule with VOO, the digital B2B marketplace for private = jet charters, users are able to search, book and pay for all their charters= based on accurate and real-time information. FL3XX automatically sends all= booked flights to VOO, delivering real-time availability and aircraft loca= tion information that VOO uses to calculate and provide accurate and valid = charter prices.

Additionally, operators can synchronize each VOO= booking with FL3XX to receive the same benefit. FL3XX bookings can be proc= essed in FL3XX, and VOO bookings in VOO.flights without conflicts with airc= raft availability. FL3XX integrates the entire workflow of an aircraft oper= ator from sales, scheduling, and dispatch all the way to training, reportin= g and maintenance management. By delivering solid value in quoting, charter= sales, scheduling, flight and duty logging, invoicing, customer management= and reporting, FL3XX increases bottom line efficiency of any flight operat= or by more than 20%.

For its part, VOO calculates accurate quote= s, so brokers can book instantly, and payments can be made 24/7 with VOOpay= , even on weekends and holidays =E2=80=93 all with maximum speed and high s= ecurity of data transfer provided by VOO.

=E2=80=9CWe are excite= d about our new partnership with VOO, which will enhance our FL3XX users=E2= =80=99 charter sales experience by providing greater efficiency and flexibi= lity. With this collaboration, syncing the operator=E2=80=99s schedule with= VOO=E2=80=99s marketplace is now a breeze, making the sales operation more= streamlined and seamless than ever before. We look forward to the possibil= ities this partnership will bring for our valued users.=E2=80=9D =E2=80=93 = Paolo Sommariva, CEO & Co-Founder.
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A= xis Jet Adds Citation CJ3 to Charter Fleet
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= Axis Jet, a Sa= cramento-based aircraft charter, sales and management company, announced th= e addition of a Citation CJ3 to the company=E2=80=99s air charter fleet. Th= e 2005 seven-passenger light jet will be based at KMHR =E2=80=93 Sacramento= Mather Airport and offers a wider, quieter cabin than most aircraft in its= class with 65 cubic feet of external baggage area. It=E2=80=99s 1,000-mile= range and climb performance makes it a favorite among pilots and travelers= alike.

=E2=80=9CThe addition of the CJ3 is a real boost to our = ability to offer service in one of our most popular and versatile models.= =E2=80=9D said Amber Pancaro, Flight Coordination Manager for Axis Jet. =E2= =80=9CThis aircraft is a nice compliment to our growing class of CJ charter= aircraft.=E2=80=9D

To see a virtual tour of this fine aircraft,= visit the company=E2=80=99s website at www.axisjet.com. Axis Jet is an = aircraft sales, management and charter company headquartered at the Sacrame= nto Jet Center at Sacramento Executive Airport (KSAC). Axis Jet is a divisi= on of Axis Aviation Group, Inc. and is a member of NBAA, NATA, NARA and is = a Wyvern Registered Operator, as well as rated ARGUS Gold. To contact Axis = Jet, email fly@axisjet.com, visit www.axisjet.com or call 916-= 391-5000.
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Bombardier Updates 2025 Strategic Ob= jectives to Reflect Strong Performance and Solid Business Fundamentals
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On 23 March, Bombardier hosted its 2023 Investor Day. =C3=89ric = Martel, Bombardier=E2=80=99s President and CEO, along with Paul Sislian, Ex= ecutive Vice President, Aftermarket Services & Strategy, and Bart Demos= ky, Executive Vice President and Chief Financial Officer, presented an over= view of the company=E2=80=99s solid progress made, together with new opport= unities for diversified growth.

=E2=80=9CIn 2021, we laid the fo= undation for a stronger, more resilient and predictable Bombardier by 2025.= Halfway down the road, we can say we are delivering on that promise,=E2=80= =9D said Martel. =E2=80=9CAll of Bombardier=E2=80=99s strategic priorities = are on track or ahead of plan. We are therefore proud to announce today tha= t we are confidently raising the bar.

=E2=80=9CThe future is bri= ght for Bombardier. While we are carefully monitoring the current market si= tuation, we know that we have all the ingredients in place to remain a driv= ing force in the industry. Our financial performance allows us to secure ou= r vision for the future, and enable our exceptional, dedicated and passiona= te teams to lead the way toward more sustainable aviation.=E2=80=9D
Updated 2025 objectives reflect strong execution and confidence in busi= ness fundamentals. Based on strong business execution and fundamentals, Bom= bardier announced that it is updating its 2025 objectives. The company is n= ow targeting more than $9 billion in annual revenue by 2025, with an adjust= ed EBITDA(2) of more than $1,625 million, and a healthy adjusted EBITDA mar= gin(3) of approximately 18%.

Bombardier also expects to generate= significant free cash flow in the coming years, to the tune of more than $= 900 million per year by 2025 and will continue to de-lever its business, no= w expecting to reach a net leverage ratio in the range of 2.0x to 2.5x.

Between 2020 and 2022, Bombardier=E2=80=99s revenues grew 23%, to $= 6.9 billion. The expanded aftermarket business was an important contributor= , with revenues increasing by more than 50% in the same period. The company= more than quadrupled its profitability to $930 million in adjusted EBITDA,= and generated $835 million in free cash flow over the last two years.
=
In terms of deleveraging, Bombardier kept up its opportunistic and p= roactive approach and has reduced its total debt by $4.5 billion, when incl= uding this year=E2=80=99s debt-related transactions, a 45% reduction compar= ed to 2020. This also resulted in credit rating upgrades from both S&P = and Moody=E2=80=99s in 2022.

With continued strong demand in the= medium and large business jet categories, Bombardier says that it is well = positioned with its industry-leading Challenger and Global platforms. Over = the past two years, the company introduced the new Global 8000, an evolutio= n of the industry flagship Global 7500 aircraft, further solidifying Bombar= dier=E2=80=99s leadership position in the large jet segment.

Bom= bardier also upgraded its best-selling Challenger 300 family with the Chall= enger 3500, an addition that has maintained Bombardier as the leader of the= super mid-size market. Thanks to its outstanding portfolio, Bombardier had= the highest number of deliveries among business jet manufacturers for the = last two years, as reported by the General Aviation Manufacturers Associati= on (GAMA).

Bombardier has invested significantly into its afterm= arket business since 2020, and it has played an important role in the diver= sification of its revenues. The company=E2=80=99s service footprint has gro= wn by close to one million square feet of new capacity worldwide, and its A= ftermarket team has added more than 250 skilled technicians to its ranks.
The strategy is working: Bombardier has increased aftermarket rev= enues more than 50% since 2020, and is on track to meet its goal of $2 bill= ion by 2025, with clear opportunity for growth beyond that point.
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Belize Ministry of National Defence and Border Security receives first= multi-mission Cessna Grand Caravan ex-Aircraft
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Textron Aviation Inc. tod= ay announced it has delivered a special mission Cessna Grand Caravan EX air= craft to the Belize Ministry of National Defense and Border Security. The F= oreign Military Sale (FMS) contract was executed by the U.S. Army Contracti= ng Command, Redstone Arsenal, Huntsville, Alabama.

The Cessna Gr= and Caravan EX aircraft is designed and manufactured by Textron Aviation, a= Textron Inc. (NYSE:TXT) company.

=E2=80=9CThe Grand Caravan EX = delivered to the Belize Ministry of National Defense and Border Security wi= ll be used as a multi-mission platform for Intelligence, Surveillance and R= econnaissance (ISR), Casualty Evacuation (CASEVAC), Search and Rescue (SAR)= , Air Mobility, Light Air Drop and other operations as necessary,=E2=80=9D = said Bob Gibbs, vice president, Special Mission Sales. =E2=80=9CThis is the= first Caravan EX in the service of the Belize Ministry of National Defense= and Border Security.=E2=80=9D

This Grand Caravan EX is fitted w= ith an Electro-Optical/Infra-Red (EO/IR) sensor, operator mission console, = tactical radios and data link. Textron Aviation will provide pilot, mission= operator and maintenance training, as well as an in-country field service = representative.

The Cessna Caravan platform has seen more than 3= ,000 aircraft delivered that are certified in 100 countries with nearly 24 = million flight hours amassed worldwide since the aircraft was introduced. C= aravans fulfill roles for multiple missions, ranging from flight training t= o recreation, commuter airlines to VIP transport, cargo carriers and humani= tarian missions.

The Grand Caravan EX aircraft is known for its = dependable and efficient performance by regional airlines, charter operator= s, cargo carriers and special mission operators worldwide. The aircraft off= ers an impressive output of 867 horsepower and a rate of climb of 1,275 fee= t per minute.

A Textron spokesperson said: =E2=80=9CWhen governm= ent, military and commercial customers want airborne solutions for critical= missions, they turn to Textron Aviation. The company=E2=80=99s aviation so= lutions provide the high performance and flight characteristics required to= address the unique challenges of special mission operations.=E2=80=9D
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Avfuel Helps Neste Supply SAF to Boeing
=C2=A0
Boeing wil= l purchase 5.6 million gallons (21.2 million liters) of blended sustainable= aviation fuel (SAF) to support their carbon footprint reduction strategy t= hrough 2023.
<= br/> The total volume of Neste MY Sustainable= Aviation Fuel=E2=84=A2 supplied is approximately 1.7 million gallons (5,20= 0 tons). The blended SAF will be supplied to Boeing by Neste=E2=80=99s part= ners EPIC Fuels, Signature Aviation, and Avfuel.

Boeing has agre= ed to purchase Neste MY Sustainable Aviation Fuel=E2=84=A2 supplied by EPIC= Fuels, Signature Aviation and Avfuel to power its U.S. commercial operatio= ns through 2023. These fuel purchases more than double Boeing=E2=80=99s SAF= procurement from last year. Neste=E2=80=99s SAF will be blended with conve= ntional jet fuel at a 30/70 ratio to produce 5.6 million gallons of blended= SAF.

=E2=80=9CAs one of the top aircraft manufacturers in the w= orld, Boeing is sending a clear message to the entire aviation industry thr= ough this purchase that SAF is a key solution to reduce greenhouse gas emis= sions from flying,=E2=80=9D said Michael Sargeant, Vice President Americas,= Renewable Aviation at Neste. =E2=80=9CWe are proud to be a part of this co= llaboration along with our partners EPIC Fuels, Signature Aviation and Avfu= el.=E2=80=9D

EPIC Fuels, Signature and Avfuel will supply blende= d SAF for Boeing=E2=80=99s ecoDemonstrator program and the company=E2=80=99= s fuel storage in Washington state and South Carolina. Additionally, EPIC F= uels and Signature will supply blended SAF for generating emissions reducti= on benefits for Boeing to allocate for company operations including Dreamli= fter and executive flights, and commercial airplane deliveries. In 2021, Bo= eing committed to deliver its commercial airplanes capable and certified to= fly on 100% SAF by 2030.

SAF is a next generation aviation fuel= providing a more sustainable alternative to conventional, fossil based jet= fuel. It is widely recognized as a key lever to achieve aviation=E2=80=99s= emission reduction goals. Using Neste MY Sustainable Aviation Fuel=E2=84= =A2 reduces greenhouse gas emissions by up to 80%* over the fuel=E2=80=99s = life cycle, compared to using conventional jet fuel.

Neste=E2=80= =99s SAF is made from sustainably sourced, 100% renewable waste and residue= raw materials, such as used cooking oil and animal fat waste. SAF is certi= fied for commercial use and can currently be blended up to 50% with traditi= onal jet fuel without modifications to airplanes, engines or fueling infras= tructure.
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Pilatus Reports One of Its Best Years Ever=
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The 2022 financial year was a very successful one for Pilatus. T= he company benefitted from high demand, despite the unpredictable period. W= ith sales of 1.3 billion Swiss francs, operating income of 226 million Swis= s francs and orders worth 1.6 billion Swiss francs, Pilatus achieved a very= positive set of results.

Pilatus improved yet again on a very s= uccessful performance in 2021. 40 PC-24s, 80 PC-12 NGXs, 10 PC-21s and 3 PC= -6s were delivered in 2022. In the General Aviation Business Unit, for exam= ple, a purchase agreement for over 20 PC-12 NGXs was signed with the US com= pany Tradewind Aviation, virtually doubling this business airline=E2=80=99s= fleet. 2022 also brought its share of major challenges. Pilatus had to con= tend with disruptions to supply chains, which impacted negatively on produc= tion operations.

Markus Bucher, CEO of Pilatus, says the past ye= ar was very positive overall: =E2=80=9CRarely has the company had to operat= e in such a geopolitically unpredictable period. Never before have we encou= ntered such serious supply chain difficulties. Pilatus has achieved a lot w= hilst also benefitting from exceptionally high demand for our unique aircra= ft."

Hansueli Loosli, Chairman of the Board of Directors of = Pilatus, adds: =E2=80=9CI=E2=80=99m very happy with the year-end results an= d the Pilatus team performed very well. Our PC-12 NGXs and PC-24s were, and= are, absolute bestsellers, our order books are full. No new orders for tra= iner aircraft were signed last year, but the demand is there in Government = Aviation as well, and we receive a high volume of enquiries. I=E2=80=99m ve= ry confident that we will reel in an order soon!=E2=80=9D

Aircra= ft deliveries account for a substantial share of the business results, but = the customer service business continues to grow as well =E2=80=93 by around= ten percent over the past year. Last year also saw Pilatus acquire Skytech= Inc., the US Sales and Service Centre, gaining another 93 full-time employ= ees overnight. Skytech will continue to sell and service PC-24s and PC-12s = on an independent basis along the Eastern Seaboard.

Breaking wit= h the tradition of the past 25 years, the 2,300 employees at the headquarte= rs in Stans, Switzerland, will no longer receive a bonus payment. In return= , Pilatus will raise monthly salaries by incorporating the maximum bonus pa= yout in order to better meet the expectations of all employees. This change= will make Pilatus even more attractive as an employer.

The new = year has also got off to a confident start and promises many highlights: th= e construction of the maintenance hangar in Buochs will start by mid-2023. = And delivery of the 2,000th PC-12 and 200th PC-24 will go ahead during the = current year. An additional building for the production of composite compon= ents is also planned at the Ennetb=C3=BCrgen site. Further proof that Pilat= us remains firmly committed to Switzerland as a centre for ideas, work and = training!
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Duncan Aviation reconfigures Falcon 900EX<= /div>
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Duncan Aviation is excited to showcase this Falco= n 900EX that was completely transformed and reconfigured at its full-servic= e MRO facility in Battle Creek, Michigan. The aircraft features a new crede= nza, eye-catching center dividers, and unifying details that give the inter= ior a dramatic and modern style.

When the aircraft arrived in Ba= ttle Creek, it lacked the character and uniqueness the customer wanted. To = create the interior desired by the owner, absolutely everything in the inte= rior was touched or replaced as part of the refurbishment.

=E2= =80=9CIt had a very traditional corporate jet interior,=E2=80=9D explained = Duncan Aviation Lead Designer Heather Pridemore. =E2=80=9CThe cabin finishe= s were dated and consisted of dark red wood, beige tones, and a world map o= n the conference table.=E2=80=9D

The customer wanted a stately, = black-and-white aesthetic. He also wanted to add more seating, along with a= n area to lie down and relax. To accommodate the owner=E2=80=99s requests, = the Duncan Aviation team removed the single seat in the aft cabin, replacin= g it with a three-place divan. A new credenza was designed, fabricated and = installed with a contemporary seating surface.

To create privacy= while keeping the cabin =E2=80=9Copen,=E2=80=9D they created unique partit= ions with transparent acrylic panels accented by veneer.

=E2=80= =9CThe customer wanted privacy while lounging in the aft cabin, without fee= ling cut-off from the rest of the aircraft,=E2=80=9D explained Pridemore. = =E2=80=9CThis creative divider design was the perfect solution!=E2=80=9D
The team incorporated subtle design cues to streamline the interio= r, such as running the veneer grain forward to aft, updating the lav vanity= to a modern, straight look, and installing new light lenses.

Wi= th all of the changes taking place in the interior, the exterior required t= he same amount of attention. A new paint design was created to meet the own= er=E2=80=99s expectations of an equally modern design on the exterior.
=
The exterior layout included a black-and-white, two-tone design with= metallic silver accents to give a bold presence on the ramp. The sleek lin= es and flowing curves evoke a sense of speed and motion.

As the = lead designer on the project, Pridemore is thrilled to see the final projec= t and how the Duncan Aviation team was able to check off every box on the o= wner=E2=80=99s list of upgrades.

=E2=80=9CThere were a lot of ne= w ideas put into the interior,=E2=80=9D said Pridemore. =E2=80=9CWe all wor= ked together and explored new designs to realize the customer=E2=80=99s vis= ion. I am so proud of all of our team members in helping create such a uniq= ue and beautiful aircraft!=E2=80=9D

Duncan Aviation Completions = Sales Representative Suzanne Hawes said she enjoyed seeing the detailed wor= k and pride all the shops put into the aircraft. =E2=80=9CIt=E2=80=99s a be= autiful showpiece,=E2=80=9D said Hawes.

The aircraft also receiv= ed a 3C Inspection, API Winglets, LED lighting, and display upgrades.
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Gogo Announces Record Fourth = Quarter and 2022 Results, Provides 2023 Guidance and Updates Long-Term Targ= ets
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Gogo Inc., the world=E2=80=99s largest provi= der of broadband connectivity services for the business aviation market, ha= s announced its financial results for the quarter and full-year ended Decem= ber 31, 2022.

Q4= 2022 Highlights
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  • Record tota= l revenue of $108.2 million increased 17% compared to Q4 2021, fueled by st= rong growth in both service and equipment revenue.
  • Record service revenue o= f $77.3 million increased 12% compared to Q4 2021 and 3% compared to Q3 202= 2.
  • Record equipment revenue of $30.8 million increased 34% compared to Q4 2= 021 and 2% compared to Q3 2022.

AVANCE equipment units shipped= totaled a record 390, an increase of 36% compared to Q4 2021 and a slight = increase compared to the previous quarterly record set in Q3 2022.
Total ATG aircraft online (=E2=80=9CAOL=E2=80=9D) reached 6,935 an incre= ase of 8% compared to Q4 2021 and 2% compared to Q3 2022.

Total = AVANCE units online grew to 3,279, an increase of 31% compared to Q4 2021 a= nd 6% compared to Q3 2022. AVANCE units comprised more than 47% of total AO= L as of December 31, 2022, up from 39% as of December 31, 2021.

= Average monthly revenue per ATG aircraft online (=E2=80=9CARPU=E2=80=9D) of= $3,370 increased 2% compared to Q4 2021 and decreased slightly compared to= Q3 2022.

Net income from continuing operations decreased to $27= .7 million from $209.1 million in Q4 2021. Q4 2022 net income from continui= ng operations is net of a $3.0 million income tax provision compared to an = income tax benefit of $187.7 million in Q4 2021.

Diluted earning= s per share from continuing operations was $0.21 compared to $1.57 in Q4 20= 21, driven primarily by the income tax benefit in Q4 2021.
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Record Adjusted EBITDA of $46.2 million, which includes approximately $= 1 million of expenses related to Global Broadband, increased 17% compared t= o Q4 2021 and 6% compared to Q3 2022.

Cash provided by operating= activities from continuing operations of $31.5 million in Q4 2022 increase= d from $30.3 million in the prior year period.

Free Cash Flow was $= 25.0 million in Q4 2022 compared to $25.7 million in the prior year period = and increased from $8.5 million in Q3 2022.

Cash, cash equivalents = and short-term investments totaled $175.3 million as of December 31, 2022 c= ompared to $152.2 million as of September 30, 2022. Cash and cash equivalen= ts reflect the Company=E2=80=99s September repurchase of 1.5 million shares= of common stock for $18.4 million in a private transaction.
Full Year 2022 Highlights=
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  • Record total revenue of $404.1 mil= lion increased 20% compared to 2021.
  • Record service revenue of $296.3 milli= on increased 14% compared to 2021.
  • Record equipment revenue of $107.7 milli= on increased 42% compared to 2021.
  • Record ARPU of $3,349 increased 3% compa= red to 2021.

Net income from continuing operations decreased t= o $92.1 million compared to $156.6 million in 2021. The prior year included= a $187.2 million tax benefit.

Adjusted EBITDA of $173.8 million= increased 15% compared to 2021.
Cash provided by operating activities= from continuing operations increased to $103.4 million compared to $66.7 m= illion in 2021.

Free Cash Flow increased to $57.8 million compar= ed to $49.4 million in 2021.

=E2=80=9COur equipment revenue surg= ed, which bodes well for future service revenue, as Gogo met extraordinary = demand for inflight connectivity and delivered a 50% increase in equipment = shipments despite global supply chain constraints in 2022,=E2=80=9D said Oa= kleigh Thorne, Chairman and CEO.

=E2=80=9CWe=E2=80=99re also on = track to commercially launch our 5G service in Q4 this year, and our LEO-ba= sed Global Broadband product in the second half of 2024.=E2=80=9D

=E2=80=9COur strong financial results underpin our confidence in our fina= ncial targets,=E2=80=9D said Barry Rowan, Executive Vice President and CFO.= =E2=80=9CWe have extended our long-term revenue growth target of 17% from = 2022 through 2027 and reiterate our target for over $200 million in Free Ca= sh Flow beginning in 2025.=E2=80=9D

2023 Financial Guidance and Long-Term Financial Targets=

The Company is providing the following guid= ance for 2023:

Total revenue in the range of $440 million to $45= 5 million.

Adjusted EBITDA of $150 million to $160 million, reflect= ing operating expenses of approximately $30 million for strategic and opera= tional initiatives including Gogo 5G and Global Broadband.

Free Cas= h Flow of $80 million to $90 million. Free Cash Flow includes capital expen= ditures of approximately $30 million to $40 million, of which $20 million i= s tied to Gogo 5G.

The Company provides the following long-term = financial targets:

Revenue growth at a compound annual growth rate = of approximately 17% from 2022 through 2027, with Global Broadband contribu= ting to revenue beginning in 2025.

Annual Adjusted EBITDA Margin= in the mid-40% range by 2027.
Free Cash Flow of more than $200 millio= n beginning in 2025 and growing thereafter, consistent with the prior targe= t.

The Company=E2=80=99s 2023 financial guidance and long-term t= argets include Gogo 5G and Global Broadband but do not reflect the impact o= f the Federal Communications Commission=E2=80=99s Secure and Trusted Commun= ications Networks Reimbursement Program (the =E2=80=9CFCC Program=E2=80=9D)= , as the Company awaits further information regarding whether Congress will= appropriate additional funds.
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Bestfly and Krimson Aviation form Joint Venture, BFK Aviation, to support = development in emerging markets

Angolan aircraft operator Bestfly and= Addis Ababa-headquartered flight support, charter, and aviation consultanc= y Krimson Aviation, have formed a new Joint Venture, BFK Aviation. The enti= ty brings together two powerhouses of business aviation in Africa with the = sole intent of supporting the evolution and growth of the industry in emerg= ing markets around the globe.

Bestfly and Krimson Aviation, unde= r the leadership of Nuno Pereira and Dawit Lemma, respectively, have been i= ntegral in establishing the foundations of the sector across the vast conti= nent of Africa and now intend to share the accumulated knowledge and experi= ence with stakeholders seeking to optimize its benefits in new and evolving= markets.

Demonstrating the value of the proposition, the first = partnership agreement has already been signed with Xen Aviation, the George= town, Guyana-based operator and aviation services provider. BFK Aviation wi= ll support the needs of Xen Aviation=E2=80=99s expanding flight and ground = services for current and future operations.

Bestfly, already wel= l versed in supporting the oil and gas industry in Angola, will provide air= craft operational know-how, while Krimson will provide all ground support a= nd maintenance service intelligence. The signing follows the success of the= Guyana Energy Expo, held in Georgetown in February, and highlights the rap= id growth of the oil and gas sector in Guyana, and the surrounding region, = which is driving increased demand for rotary and fixed-wing operations.

Bestfly is Angola=E2=80=99s largest business aviation services prov= ider operating a fleet of some thirty aircraft including turboprops, execut= ive jets, regional airliners, and helicopters flying within Angola, Africa = and internationally; as well as a commercial operator flying scheduled rout= es to Cabo Verde. As one of the first African aviation companies to be gran= ted IS-BAO status, Pereira and his team are familiar with the rigour and qu= ality required to meet and exceed international standards and customer expe= ctations. Krimson Aviation has expanded significantly since launch and prov= ides a range of ground handling, trip support and consultancy services for = aviation customers in more than twenty African countries.

Bestfl= y is one of the founding members of the African Business Aviation Associati= on, and Pereira, as a board member, was critical in securing its inaugurati= on and subsequent successful development. Lemma has also been a significant= force in the association's development and is VP International and a b= oard member. Their collective experience of shaping the evolution of Africa= =E2=80=99s business aviation development, mutual extensive global network, = and understanding of what it takes to affect a positive change in the perce= ption of business aviation, intra- and inter-continentally, positions them = well to support commercial, sustainable transformation in evolving markets.=

=E2=80=9CUndoubtedly, we can enable and enhance credible operat= ions in challenging and dynamic operating environments. We want to harness = this very specific knowledge and understanding to support stakeholders in n= ations that want to maximize the sector's benefits but are still at the= early stages of development,=E2=80=9D says Lemma.

Pereira adds,= =E2=80=9CAt Bestfly, we have worked extremely hard to create aircraft oper= ations that are internationally respected, and we are known for our profess= ionalism, excellence and reliability as we have a real understanding of wha= t it takes to service the changing demands of our international oil and gas= , mining and agricultural customers.=E2=80=9D

=E2=80=9CWorking w= ith BFK Aviation will add value to our existing operations, support the dev= elopment of new standard operating procedures, and we know will raise the b= ar wherever we work to implement best industry practices,=E2=80=9D adds Ron= aldo Alphonso, Managing Director, Xen Aviation. =E2=80=9CWe=E2=80=99re exci= ted for what the future holds for us, BFK and the business aviation sector = in our region.=E2=80=9D

About Krimson

Krimson launched in 2015 to provide aviation services with integrit= y and excellence. Based at Addis Ababa Bole International Airport, the team= offers 24/7 support fulfilling a range of aviation services, including gro= und handling, flight support, refuelling, charter brokerage and aviation co= mmunications. Customers originate from around the world to take advantage o= f the local expertise in Ethiopia and across Africa.

Krimson off= ers full flight support, ground handling, charter brokerage and other aviat= ion services within Ethiopia and East Africa to a range of aviation custome= rs, including commercial airlines, business aviation operators, and trip pl= anning companies.

Led by Dawit Lemma, a Swiss citizen of Ethiopi= an origins, the diverse team of aviation experts is committed to service ex= cellence combined with care and discretion. =C2=A0
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Air bp announces first sale of ISCC= EU sustainable aviation fuel produced at bp=E2=80=99s Castellon refinery

Air bp, the international aviation fuel products and service supplier,= has announced the first sale of International Sustainability and Carbon Ce= rtification (ISCC) EU SAF from bp=E2=80=99s Castellon refinery in Spain. Th= e flight was carried out by LATAM Cargo Chile from Zaragoza, Spain to North= America.

This latest announcement builds on its experience of s= upplying ISCC Plus SAF, first supplied in July 2021*. Underlining the role = of co-processing using existing refineries to meet SAF demand, this ISCC EU= SAF is produced from sustainable feedstocks processed alongside fossil fee= dstocks.

=E2=80=9CThis latest announcement marks another importa= nt milestone for Air bp as we work towards making SAF more available. As a = key step in replacing fossil fuel with renewable feedstock within existing = refineries, co-processing has an integral role to play in scaling up SAF pr= oduction in the most economical and efficient way. We believe that all tech= nologies and pathways, and both standalone and co-processing are needed to = help the industry decarbonise and reach its goal of net zero by 2050. The s= upply of ISCC EU SAF from Castellon will open new opportunities throughout = the country and beyond,=E2=80=9D said Andreea Moyes, Air bp=E2=80=99s globa= l sustainability director.

=E2=80=9CWe are proud to collaborate = with Air bp as its first customer to refuel with ISCC EU SAF from the Caste= llon refinery. This flight represents one of our most concrete steps in our= SAF fuel agenda. As a group, LATAM is committed to contributing to the pro= tection and care of the environment, so this first fuelling reflects the im= portance of the collaboration of all players in the logistics chain includi= ng AENA and Exolum," said Andr=C3=A9s Bianchi, CEO of LATAM Cargo.
=
The ISCC EU SAF supplied by Air bp is made from waste based sustaina= ble feedstock which is procured by the Castellon refinery and co-processed = together with fossil fuel. Currently co-processing of sustainable feedstock= at up to 5% is permitted within the jet fuel specification and bp has laun= ched an industry taskforce looking to increase this to 30%. This sustainabl= e component has an attributed saving of around 80% carbon emissions over it= s lifecycle compared with the conventional jet fuel it replaces.

= bp aims to increase SAF production further in future and this week announc= ed that as part of the Hydrogen Cluster of the Valencia Region (HyVal), its= production of biofuels, including SAF, is expected to increase three-fold,= to 650,000 tonnes a year 2030 in Castell=C3=B3n. Green hydrogen will be us= ed as a feedstock for the production of SAF in an independent unit.
Air bp has been enabling ground-breaking test flights and investing in = sustainable alternatives since 2008. To date, the business has supplied SAF= to over 30 locations.
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In January 2021, BAM initiated our monthly newsletter= blast going out to over 150,000 executives across the business aviation in= dustry.=C2=A0
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If you would like to hav= e your latest press release considered for inclusion (we limit the NL to 10= - 14 releases) please get in touch with our publisher and CEO, Max Raja, a= t=C2=A0max@bizavltd.com or on +44 (0)203 865 3736
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The monthly newsletter represents a great branding opportunity and M= ax will be happy to discuss pricing for advertising in the newsletter.
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